You probably noticed that USDC has become trendy again... but what is causing all this fuss? 🤔
USDC is a stablecoin, meaning its value is always approximately = 1 dollar. What distinguishes it from other stablecoins like USDT (Tether), DAI, and TUSD is that it is the one that plays the most with official documents. The company Circle behind USDC publishes regular reports clarifying the assets that back the currency, which makes people feel more confident.
The hype started to grow when the U.S. Senate approved the GENIUS Act, aimed at officially regulating stablecoins. This made USDC appear as the “lucky one” that will enter the U.S. financial system through the big door.
🔥 Also, Circle is entering the U.S. stock market with a huge IPO, which gives more credibility to USDC compared to other currencies that are still operating in gray areas.
Now, USDT is still the largest in terms of volume, and DAI is still more decentralized, but USDC has become the government's unofficial currency.
💼 In times of fear? People leave the rest and rush to USDC.
But don't forget... regulation has a cost, and stability sometimes comes at the expense of freedom. 😉
